Important Updates

July 4th, 2017

Under Responsible Lending obligations, brokers are required to have a Requirements and Objectives conversation with clients when discussing mortgage lending needs, to ensure that clients obtain the product(s) that aligns with their needs. As such, starting Tuesday 18 July 2017 , brokers will be required to complete a new question in AOL if a client is applying for an Interest Only loan. They will also have to note the client’s answers and acknowledgements of the outcomes of an Interest Only loan in AOL.

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